FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
FY 2011 Annual Report - Sheng Siong
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30 <strong>Sheng</strong> <strong>Siong</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong><br />
Corporate Governance<br />
Interested Person Transactions<br />
The Company has established procedures to ensure that all interested persons transactions are carried out<br />
on normal commercial terms and do not prejudice the interests of the Company and its minority shareholders.<br />
Details of the interested person transactions entered into by the Group during <strong>FY</strong><strong>2011</strong> are set out in the tables<br />
below:<br />
Name of Interested Person(s)<br />
and Nature of Transactions<br />
Aggregate value of all<br />
interested person<br />
transactions during<br />
the financial period<br />
under review (excluding<br />
transactions less than<br />
S$100,000 and transactions<br />
conducted under<br />
shareholders’ mandate<br />
pursuant to Rule 920)<br />
(S$’000)<br />
F M Food Court Pte. Ltd. (1) 1979 –<br />
Provision of goods/rental of space<br />
E Land Properties Pte. Ltd. (2)<br />
Lease and license of operations<br />
space<br />
1,021 –<br />
Aggregate value of all<br />
interested person<br />
transactions conducted<br />
under shareholders’<br />
mandate pursuant to Rule<br />
920 (excluding transactions<br />
less than S$100,000)<br />
The following interested person transactions were discontinued after the Company was listed on the SGX-ST<br />
on 17 August <strong>2011</strong>:<br />
F M Food Court Pte. Ltd. (1)<br />
Lease of operations space/<br />
provision of services<br />
E Land Properties Pte. Ltd. (2)<br />
Provision of property management<br />
services<br />
ECL Money Changer Pte. Ltd. (3)<br />
Provision of money teller services<br />
Notes:<br />
489 –<br />
19 –<br />
25 –<br />
(1) Our CEO, Mr. Lim Hock Chee, our Executive Chairman, Mr. Lim Hock Eng, and our Managing Director, Mr.<br />
Lim Hock Leng, (each a “Lim Director”) each holds approximately 18.3% of the equity interest in F M Food<br />
Court Pte. Ltd. Accordingly, F M Food Court Pte. Ltd. is an associate of each of the Lim Directors, and an<br />
interested person vis-à-vis the Group.<br />
(2) Each of the Lim Directors holds approximately 33.3% of the equity interest in E Land Properties Pte. Ltd.<br />
Accordingly, E Land Properties Pte. Ltd. is an associate of each of the Lim Directors, and an interested person<br />
vis-à-vis the Group.<br />
(3) Each of the Lim Directors holds approximately 33.3% of the equity interest in ECL Money Changer Pte. Ltd.<br />
Accordingly, ECL Money Changer Pte. Ltd. is an associate of each of the Lim Directors, and an interested<br />
person vis-à-vis the Group.
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